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Author Topic: BitFloor.com Rocks!  (Read 16097 times)
bb113
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June 15, 2012, 01:07:57 AM
 #21

I can also say that bitfloor works as advertised. Bootstrapping by paying people to provide liquidity is a good idea as well.

To shtylman: At what point do you expect free deposits to end?
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shtylman
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June 15, 2012, 01:58:57 AM
 #22

To shtylman: At what point do you expect free deposits to end?

Currently at no point. The small cost of deposits charged by our banks is a small price for us to to pay to provide less headache for our users (you). We would rather you not worry about all the tiny fees since we hope you will deposit and trade with your funds Smiley
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June 15, 2012, 03:12:41 AM
 #23

great ways for US residents to deposit and withdraw USD, namely ING Direct Bank's P2P service and PopMoney for deposits

I've no idea how they are accommodating the risk ACH reversals with those.

ING P2P and Popmoney are a different type of ACH service (not the same as Dwolla). These is still a chance of chargeback, but much less from fraudulent activity claimed on the account since they are not third party services which transfer on your behalf.

As always, cash is the preferred and fastest method for those able to do so.

Right... it's hard to convince your bank to reverse it when you initiated it yourself.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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June 15, 2012, 03:14:55 AM
 #24

great ways for US residents to deposit and withdraw USD, namely ING Direct Bank's P2P service and PopMoney for deposits

I've no idea how they are accommodating the risk ACH reversals with those.

ING P2P and Popmoney are a different type of ACH service (not the same as Dwolla). These is still a chance of chargeback, but much less from fraudulent activity claimed on the account since they are not third party services which transfer on your behalf.

As always, cash is the preferred and fastest method for those able to do so.

Right... it's hard to convince your bank to reverse it when you initiated it yourself.
What if your account gets hacked?

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June 15, 2012, 03:25:59 AM
 #25

great ways for US residents to deposit and withdraw USD, namely ING Direct Bank's P2P service and PopMoney for deposits

I've no idea how they are accommodating the risk ACH reversals with those.

ING P2P and Popmoney are a different type of ACH service (not the same as Dwolla). These is still a chance of chargeback, but much less from fraudulent activity claimed on the account since they are not third party services which transfer on your behalf.

As always, cash is the preferred and fastest method for those able to do so.

Right... it's hard to convince your bank to reverse it when you initiated it yourself.
What if your account gets hacked?

Then they have record that you logged in from an unusual IP, and record of the security questions they prompted the attacker with, and whether or not they had to try multiple times.

Sure, it's not impossible, but there is a lot more information to make a decision on than if dwolla pulls from your account.  In that case, they pretty much have to side with the customer.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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June 15, 2012, 05:10:07 AM
 #26

If I may, a suggestion: how about the option to enable non-instant withdrawals, preceded by an instant email notification? This could potentially allow a user with a hacked account to intervene before coins get sent, if they got an email and they knew they hadn't actually sent a withdrawal.

+1

But make it necessary to respond to the Email too,before the TX can be completed Wink

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June 15, 2012, 01:37:30 PM
 #27

bitfloor guy... moar decimal places plz.


Why? Smiley
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June 15, 2012, 04:30:03 PM
 #28

Hello Shtylman,

Quick question about your trade engine:

If the highest bid on BTC/USD is 6.00 and I accidentally enter a limit sell order @ 0.60. Do I get filled at 6.00 or my 0.60?

The reason I ask is because I should get the best price of 6.00 even though I entered 0.60. Unfortunately, many times the trade engine isn't coded properly and customers get ripped off. This type of bad order matching happens frequently at non-regulated exchanges/ECNs.

Thanks in advance for your reply, cheers!

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June 15, 2012, 04:41:23 PM
 #29

Bitfloor has been great and Roman has provided excellent customer service. I think covering ACH fees was very smart. I've recommended them to everyone.

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shtylman
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June 15, 2012, 04:42:50 PM
 #30

Hello Shtylman,

Quick question about your trade engine:

If the highest bid on BTC/USD is 6.00 and I accidentally enter a limit sell order @ 0.60. Do I get filled at 6.00 or my 0.60?

The reason I ask is because I should get the best price of 6.00 even though I entered 0.60. Unfortunately, many times the trade engine isn't coded properly and customers get ripped off. This type of bad order matching happens frequently at non-regulated exchanges/ECNs.

Thanks in advance for your reply, cheers!

Our exchange operates as you would expect. In your example, you will be filled at the best price available first, which would be 6, NOT 0.6

Once all of the available volume at 6 is gone, then you will be filled at the next best price and so on until your order is either filled or the remainder put on the order book.
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June 15, 2012, 05:50:04 PM
 #31

One hidden gem of bitfloor as the mobile phone support.  The website is so lite and clean that it load quickly on my Android phone.
Other exchanges should take note.

On edit:  bug report.  I can't make a sell using mobile browser (Android -4.0)  The screen darkens but the popup to confirm never appears.
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June 16, 2012, 01:29:49 AM
 #32

There's no Chase within an hour's drive of my house; there is, however, a Wal-Mart 10 minutes away. Can you coordinate with BitInstant? I hear nothing but great things about BitFloor, but for now I'm stuck with Wal-Mart deposits.

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
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June 16, 2012, 05:07:11 AM
 #33

Trying to send a deposit via Popmoney, and PNC held up my deposit. They said they needed to verify my identity. I will do it, but has anyone else had this problem?

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June 16, 2012, 04:42:31 PM
 #34

Hello shtylman,

Do you have any plans on adding any other contracts (i.e. BTC/EUR, Namecoins, etc) soon?

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June 16, 2012, 05:03:43 PM
 #35

Any plans to allow account to account exchange of USD?  i

Something like MtGox codes or CryptoXChange voucher codes.  A simpler/easier version would be like how CampBX does it.  With CampBX you can't create a voucher/code but you can directly transfer USD to another account.
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June 16, 2012, 05:14:10 PM
 #36

shtylman, How long does it take to get ACH setup? Do I have to email you for each withdraw I want to make? Or can I get ACH setup one time, then keep using it without having to email you each time?

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June 16, 2012, 05:18:25 PM
 #37

shtylman, How long does it take to get ACH setup? Do I have to email you for each withdraw I want to make? Or can I get ACH setup one time, then keep using it without having to email you each time?

On my account he set it up the same day.  You only need to send account info once.  There is no automated way to request a withdrawal you need to email support.  You don't need to send account info on each request though.  Low tech but it works and response time has been fantastic. 

I was concerned about security and asked for a public key to encrypt the account details.  He sent me his openSSL public key which I have no idea how to use.  I asked him if he could provide a PGP key instead and he did within minutes. 

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June 16, 2012, 05:45:20 PM
 #38

I agree very good service, after going on week 3 to get funds out of Mtgox I signed up on Wednesday sent a few test coins, then decided to cancel a withdraw from Mtgox (which they surprisingly canceled very quickly LOL) bought back the coins from MtGox sent them to bitfloor sold them, requested a ACH withdraw late Thursday it went out Friday morning and as of now (Saturday) the funds are pending in my bank couldn't be any easier.

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June 17, 2012, 08:02:33 AM
 #39

shtylman, How long does it take to get ACH setup? Do I have to email you for each withdraw I want to make? Or can I get ACH setup one time, then keep using it without having to email you each time?

On my account he set it up the same day.  You only need to send account info once.  There is no automated way to request a withdrawal you need to email support.  You don't need to send account info on each request though.  Low tech but it works and response time has been fantastic. 

I was concerned about security and asked for a public key to encrypt the account details.  He sent me his openSSL public key which I have no idea how to use.  I asked him if he could provide a PGP key instead and he did within minutes. 

TL/DR
shtylman is a pro!
Did he email you to confirm your account info?  I sent an email 2-3 days back and haven't heard a peep...
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June 17, 2012, 10:08:45 AM
 #40

Can you coordinate with BitInstant?
+1
This would bring way more volume to bitfloor
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